Retail Home appliance giant Fry’s Electronics announced on the 24th that it will close 31 of its major retail stores in nine states across the United States, turning out the lights permanently on its nearly 36-year-old appliance empire.
All large retail stores, including those throughout California, will also be closed.
Fry’s appliance executives released a written statement on the 24th, saying the company is after careful consideration, difficult to make the decision to close permanently. The statement said that in addition to the huge challenges faced by the retail industry in recent years, the New Crown (CCP virus) Epidemic has also made Fry’s survival more difficult. The statement also said that the company will implement the closure through an orderly wind-down process in the hope of maximizing the interests of the company, its creditors and other stakeholders.
The statement said that Fry’s ceased normal operations and began winding down on February 24, 2021. It is hoped that winding down through this orderly process will reduce costs, avoid additional liabilities, minimize the impact on customers, suppliers, landlords and colleagues, and maximize the value of the company’s assets to creditors and other stakeholders.
Fry’s is also reaching out to maintenance and consignment providers to help them understand what this means for them and to coordinate what to do next.
Fry’s asks that customers who are currently repairing equipment, or consignment providers who need to pick it up from their company, contact customer service via email at [email protected] or can call 800-811-1745 to arrange a handoff.
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